Advance Payment Guarantee

A guarantee that ensures advance payments will be returned if the party that received such payments does not perform its part of the contract. These guarantees are issued to mobilize a contract.


This type of bank guarantee is issuing with below criteria

1. Prescribed Application from customer side for issuance of bank guarantee
2. Contract copy with beneficiary or Bid notification
3. Corporate valid license copy
4. Tazkira or passport copy
5. 100% Cash Margin and bank commission. However, lower cash margins can be considered subject to provision of suitable collateral security and its assessment will be done on case to case basis.
6. Bank Guarantee is issued for any period which proposed or mentioned by customer in bank guarantee application form.
7. The bank guarantee only valid for the period which is mentioned in guarantee letter which are issued by bank.